EXCLUSIVE — Fairfield wraps up fundraising for second core-plus fund

Fairfield, a fully integrated multifamily company, has completed the final closing of its second core-plus vehicle, Fairfield U.S. Multifamily Core Plus Fund II. The fund raised more than $250 million of equity commitments, bringing the total equity raised for the vehicle to $750 million.

The investor base consisted of U.S. and Asian institutional investors, the California State Teachers’ Retirement System (CalSTRS), Korea Public Officials Benefit Association (POBA) with Meritz Alternative Investment Management serving as investment manager to POBA, and five other large institutional investors.

CalSTRS and POBA also are investors in Fairfield’s predecessor Core Plus Fund, Fairfield U.S. Multifamily Core Plus Joint Venture, which closed in March 2020 with $308 million of commitments.

“We are not only excited we achieved our fundraising goal and raised our second and largest core-plus fund to date, but are equally proud of our ability to attract high quality